NationMaster - Encyclopedia: Carlyle Group

The Carlyle Group is a global private equity investment firm, based in Washington, D.C., with more than $81.1 billion of equity capital under management.^[1] The firm operates four fund families, focusing on leveraged buyouts, venture & growth capital, real estate and leveraged finance investments. The firm employs more than 575 investment professionals in 21 countries with several offices in North America, South America, Europe, Asia and Australia; its portfolio companies employ more than 286,000 people worldwide. Carlyle has over 1200 investors in 68 countries. This is the logo of the Carlyle Group, taken from their official web site. ... This article is about the year 1987. ... Louis V. Gerstner, Jr. ... david m rubenstein ... CFO is usually short for Chief Financial Officer, but may also mean: Carrier frequency offset Ceramic fiber optics Chief Fire Officer Chief of Flight Operations Conselho Federal de Odontologia (cfo. ... Financial services is a term used to refer to the services provided by the finance industry. ... A management buyout (MBO) is a form of acquisition where a companys existing managers acquire a large part or all of the company. ... Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ... In finance, leverage (or gearing) is using given resources in such a way that the potential positive or negative outcome is magnified. ... Venture capital is a general term to describe financing for startup and early stage businesses as well as businesses in turn around situations. ... Growth capital is a very flexible type of financing. ... For the tax agency in Ireland of the same name, see Revenue Commissioners. ... This article is about work. ... A website (alternatively, web site or Web site) is a collection of Web pages, images, videos or other digital assets that is hosted on one or more web servers, usually accessible via the Internet. ... Private equity is a broad term that refers to any type of equity investment in an asset in which the equity is not freely tradable on a public stock market. ... For other uses, see Washington, D.C. (disambiguation). ... At the start of a business, owners put some funding into the business to finance assets. ... A leveraged buyout (or LBO) occurs when a financial sponsor gains control of a majority of a target companys equity through the use of borrowed money or debt. ... Venture capital is a general term to describe financing for startup and early stage businesses as well as businesses in turn around situations. ... Growth capital is a very flexible type of financing. ... Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ... In finance, leverage (or gearing) is using given resources in such a way that the potential positive or negative outcome is magnified. ...

The firm is well known for the dozens of world political figures and luminaries it has employed. Some of these figures, such as George H. W. Bush and his Secretary of State James A. Baker III, have generated controversy stemming from allegations of conflicts of interest. George Herbert Walker Bush (born June 12, 1924) was the 41st President of the United States, serving from 1989 to 1993. ... James Addison Baker III (born April 28, 1930), American politician and diplomat, was Chief of Staff in the President Ronald Reagans first administration, and Secretary of State in the administration of President George H. W. Bush and as United States Secretary of the Treasury from 1985 to 1988 in... A conflict of interest is a situation in which someone in a position of trust, such as a lawyer, a politician, or an executive or director of a corporation, has competing professional or personal interests. ...

Origin

Carlyle was founded in 1987 by Stephen L. Norris, and David M. Rubenstein.^[2] They later hired Dan D'Aniello, William Conway and Greg Rosenbaum.^[3] Rosenbaum left in 1987;^[4] Norris left in 1995.^[5] The three remaining founders are reported to collectively own around a 50% interest in the group's general partnership. The California Public Employees Retirement System (or CalPERS) is the only US institution which owns a stake in the partnership, holding 5.5% of Carlyle for which it paid $175 million in 2001. In 2007, Mubadala Development, an investment vehicle for the Government of Abu Dhabi, purchased a 7.5% stake for $1.35 billion.^[6] david m rubenstein ... Sir William Martin Conway (April 12, 1856 - April 19, 1937), English art critic and mountaineer, was the son of Reverend William Conway, afterwards canon of Westminster. ... The California Public Employees Retirement System (CalPERS) provides pension fund and other retirement services for 1. ...

As they wanted the firm to outlive them, Norris and Rubenstein named the firm after the Upper East Side area hotel in New York City, the Carlyle Hotel, where they first met to discuss the idea. Carlyle's current chairman is Lou Gerstner, former chairman and CEO of IBM and Nabisco. The Upper East Side at Sunset The Upper East Side is a neighborhood in the borough of Manhattan in New York City, USA, between Central Park and the East River. ... New York, New York and NYC redirect here. ... The Carlyle Hotel is a luxury hotel and extended stay hotel in the Upper East Side of New York City, USA. The hotel, designed in Art Deco style, opened in 1931 and was named after Scottish essayist Thomas Carlyle. ... Louis V. Gerstner, Jr. ... For other uses, see IBM (disambiguation) and Big Blue. ... Nabisco logo Nabisco is an American manufacturer of cookies and snacks, including brands such as Chips Ahoy!, Fig Newtons, Mallomars, Oreos, Premium Crackers, Ritz Crackers, Teddy Grahams, Triscuits, Wheat Thins, and Chicken in a Biskit. ...

Specialization

Carlyle deals in the following industries: aerospace and defense, automotive, consumer and retail, energy and power, health care, real estate, technology and business services, telecommunications and media, and transportation. The Carlyle Group's investments are focused on East Asia, Europe and North America, with most investment money coming from the United States (65%), Europe (25%), Asia (6%), Latin America, and the Middle East. Defense investments represent about 1% of the group's current portfolio^{[citation needed]} — though this translates, for example, into a 33.8% ownership of QinetiQ, the recently privatized British defense company. Aerospace engineering is the branch of engineering that concerns the design, construction and science behind aircraft and spacecraft. ... A defense contractor (sometimes called a military contractor) is a business organization or individual that provides products or services to a defense department of a government. ... Car redirects here. ... For delivered electrical power, see Electrical power industry. ... Health care or healthcare is one of the worlds largest and fastest growing professions. ... Real estate is a legal term that encompasses land along with anything permanently affixed to the land, such as buildings. ... This box: â€¢ â€¢ The Quaternary sector of industry is the sector of industry that involves the intellectual services. ... Telecommunication involves the transmission of signals over a distance for the purpose of communication. ... This article is about the geographical region. ... For other uses, see Europe (disambiguation). ... North American redirects here. ... , QinetiQ (LSE: QQ.) (pronounced [], as in kinetic energy) is a British defence technology company, formed from the greater part of the former government agency DERA when it was split up in June 2001 (with the smaller part becoming Dstl). ... Privatization (sometimes privatisation, denationalization, or — especially in India — disinvestment) is the process of transferring property, from public ownership to private ownership. ...

The Partnership

Carlyle has only allowed two outsiders to buy into its partnership.^[7] The first is the California Public Employees' Retirement System (CalPERS), who "own a 5.5% stake in the company that is estimated to be worth about $1 billion."^[7] The second is Mubadala Development Company - "an investment group owned by the government of Abu Dhabi, which is part of the United Arab Emirates."^[7] In September of 2007, they bought a "7.5 percent share of [Carlyle's] general partnership for $1.35 billion."^[7] The California Public Employees Retirement System (CalPERS) provides pension fund and other retirement services for 1. ... The Mubadala Development Company (Arabic:Ø´Ø±ÙƒØ© Ù…Ø¨Ø§Ø¯Ù„Ø© Ù„Ù„ØªÙ†Ù…ÙŠØ©) is a state owned company of the Abu Dhabi government in the United Arab Emirates. ... Abu Dhabi or Abu Zaby (Arabic language: أبوظبي) is the largest of the seven emirates that comprise the United Arab Emirates and was also the largest of the former Trucial States. ...

Current portfolio and major acquisitions

Though known for its expertise in aerospace and defense, Carlyle invested more than thirty percent of its assets in the telecommunications and media sector. Noted portfolio companies are Dex Media, the former directories business of Qwest Communications; Willcom, a Japanese wireless company; Casema, a Dutch cable company; and Insight Communications, the ninth largest cable company in the U.S. The Carlyle Group was once a major investor in US Investigations Services, which is the privatized arm of the United States Office of Personnel Management's Office of Federal Investigations, but has since divested itself, selling its stake to Providence Equity Partners in 2007. This article does not cite any references or sources. ... WILLCOM (ã‚¦ã‚£ãƒ«ã‚³ãƒ ) is a Japanese PHS operator, which offers flat-rate wireless network and flat-rate mobile calling for it subscribers. ... Casema is a major dutch provider of cable television, internet and telephone services. ... -1... Providence Equity Partners is a private equity firm headquartered in Providence, Rhode Island that focuses on investments in media and telecommunications. ...

Brand-name companies that Carlyle owns include: Dunkin' Brands, which owns Dunkin' Donuts and Baskin-Robbins, and dental hygiene company Water Pik. Carlyle also recently took rental car company Hertz public. This article is about brands in marketing. ... Dunkin Donuts is an international coffee and donut retailer founded in 1950 in Quincy, Massachusetts, U.S. by William Rosenberg. ... External links Baskin-Robbins official site. ... Oral hygiene is the practice of keeping the mouth clean in order to prevent cavities (dental caries), gingivitis, periodontitis, bad breath (halitosis), and other dental disorders. ... The Hertz Corporation (also known as Hertz Rent A Car or simply Hertz) is the worlds second largest car rental company, with 1,900 locations in the United States and 5,100 worldwide behind Enterprise, but is the largest general use car rental company in the world. ...

On January 29, 2007, Carlyle announced that it would acquire Synagro Technologies, Inc, which according to Synagro's website is "the largest recycler of biosolids and other organic residuals in the United States". The total enterprise value of the transaction, including the assumption of debt, is $772 million.^[8] is the 29th day of the year in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ...

On June 28, 2007, Carlyle announced that it would partner with Onex Corporation to buy the Allison Transmission unit from General Motors for $5.6 billion.^[9] is the 179th day of the year (180th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... Onex Corporation is a Toronto based investment firm. ... Allison Transmission is a manufacturer of automatic transmissions for medium and heavy-duty commercial vehicle applications. ... General Motors Corporation, also known as GM, is a multinational corporation headquartered in the United States and has been the worlds largest and most dominant automaker since 1931 till the second half of 2007, surpassed by Toyota; as well as the global industry sales leader for 77 years. ...

On July 2, 2007, it was disclosed that the Carlyle Group was looking to buy Virgin Media UK cable business.^[10] Richard Branson is the largest shareholder, and the Virgin Group own the name Virgin, and Virgin Media have the rights to use the name Virgin for 10 years^{[citation needed]}. is the 183rd day of the year (184th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ...

On July 28, 2007, Carlyle announced the acquisition of Applus+ from its shareholders Agbar, Unión Fenosa and Caja Madrid for an enterprise value of €1,480 million.^[11] is the 209th day of the year (210th in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ...

On December 18, 2007, David Rubenstein, representing the Carlyle Group, purchased the Magna Carta (one of seventeen copies) at Sotheby's Auction House in New York City. He paid the Perot Foundation $21.3 million. Mr. Rubenstein expressed his intent for it to be returned to the National Archives for display. is the 352nd day of the year (353rd in leap years) in the Gregorian calendar. ... Year 2007 (MMVII) was a common year starting on Monday of the Gregorian calendar in the 21st century. ... David Rubenstein is the co-founder of The Carlyle Group, an American private equity firm. ... This article is about the English charter issued in 1215. ...

Carlyle Capital Corporation

In March 2008, Carlyle Capital Corporation, established in August 2006^[12] for the purpose of making investments in U.S. mortgage-backed securities, defaulted on about US$ 16.6 billion of debt as the global credit crunch brought about by the subprime mortgage crisis worsened for leveraged investors. The Guernsey-based affiliate of Carlyle was very heavily leveraged , up to 32 times by some accounts, and it expects its creditors to seize its remaining assets.^[13] Tremors in the mortgage markets induced several of Carlyle's 13 lenders to make margin calls or to declare Carlyle in default on its loans.^[14] In response to the forced liquidation of mortgage-backed assets caused by the Carlyle margin calls and other similar developments in credit markets, on March 11, 2008, the Federal Reserve gave Wall Street's primary dealers the right to post mortgaged-back securities as collateral for loans of up to $200 billion in higher-grade, U.S. government-backed securities. ^[15] On March 12, 2008, BBC News Online reported that "instead of underpinning the mortgage-backed securities market, it seems to have had the opposite effect, giving lenders an opportunity to dump the risky asset" and that Carlyle Capital Corp. "will collapse if, as expected, its lenders seize its remaining assets."^[16] On March 16, 2008, Carlyle Capital announced that its Class A Shareholders had voted unanimously in favor of the Corporation filing a petition under Part XVI, Sec. 96, of the Companies Law (1994) of Guernsey^[17] for a "compulsory winding up proceeding" to permit all its remaining assets to be liquidated by a court appointed liquidator.^[18] A mortgage-backed security (MBS) is a bond whose cash flows are backed by homeowners mortgage payements. ... The subprime mortgage crisis is an ongoing problem manifesting itself through liquidity issues in the banking system which have become more prevalent due to foreclosures which accelerated in the United States in late 2006 and triggered a global financial crisis during 2007 and 2008. ... A margin call is the demand, in a margin account, for additional funds, additional money or securities, to be deposited into the account. ... The Federal Reserve System is headquartered in the Eccles Building on Constitution Avenue in Washington, DC. The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. ... Primary dealers are banks or brokerage firms who may trade directly with the Federal Reserve System. ... is the 71st day of the year (72nd in leap years) in the Gregorian calendar. ... 2008 (MMVIII) is the current year, a leap year that started on Tuesday of the Anno Domini (or common era), in accordance to the Gregorian calendar. ... BBC News website in June 2007. ...

The losses to the Carlyle Group due to the collapse of Carlyle Capital is reported to be "minimal from a financial standpoint".^[19]

Past acquisitions

Carlyle acquired United Defense Industries in October 1997, bringing in over 60% of Carlyle's defense business. United Defense went public on the New York Stock Exchange in December 2001 with Carlyle retaining a stock ownership position. Carlyle completed the sale of all of its United Defense stock and exited the investment in April 2004^[20]--in private equity terms, the investment was "realized" at that time.^[21] (One major United Defense program was the XM2001 Crusader self-propelled howitzer which was canceled by Defense Secretary Donald Rumsfeld in early 2002 causing United Defense stock prices to fall 27 percent.^[22]) United Defense Industries was a United States defense contractor which is now part of BAE Systems Land and Armaments. ... For other uses, see October (disambiguation). ... For the band, see 1997 (band). ... The XM2001 Crusader was to be the United States Armys next-generation self-propelled howitzer (SPH), designed to improve survivability, lethality, mobility, and effectiveness and planned to be introduced by 2008. ...

Controversy

Connections between the Carlyle and the Bush family have inspired controversy, particularly in relation to the War on Terror and the Iraq War. George H. W. Bush and his Secretary of State James A. Baker III have at times been advisors to the group. One writer claimed that Saudi Arabian interests have given $1.4 billion to firms connected to the Bush family. Of this figure, $1.18 billion comes from contracts awarded to defense contractor Braddock, Dunn & McDonald, which Carlyle sold before George H. W. Bush became an advisor.^[23] A Carlyle spokesman noted in 2003 that its 7 percent interest in defense industries was far less than several other venture capital groups.^[24] The Bush family: President George W. Bush, First Lady Laura Bush, former First Lady Barbara Bush, and former President George H. W. Bush sit surrounded by family in the Red Room (White House) on January 6, 2005, together to celebrate the senior couples 60th wedding anniversary. ... This article is about U.S. actions, and those of other states, after September 11, 2001. ... For other uses, see Iraq war (disambiguation). ... George Herbert Walker Bush (born June 12, 1924) was the 41st President of the United States, serving from 1989 to 1993. ... James Addison Baker III (born April 28, 1930), American politician and diplomat, was Chief of Staff in the President Ronald Reagans first administration, and Secretary of State in the administration of President George H. W. Bush and as United States Secretary of the Treasury from 1985 to 1988 in... The Kingdom of Saudi Arabia is a country on the Arabian Peninsula. ... The Bush family: President George W. Bush, First Lady Laura Bush, former First Lady Barbara Bush, and former President George H. W. Bush sit surrounded by family in the Red Room (White House) on January 6, 2005, together to celebrate the senior couples 60th wedding anniversary. ...

Notable current and former employees and affiliated persons

Business

The Archer Daniels Midland Company (NYSE: ADM), based in Decatur, Illinois, operates more than 270 plants worldwide, where cereal grains and oilseeds are processed into numerous products used in food, beverage, nutraceutical, industrial and animal feed markets worldwide. ... Daniel F. Akerson is a Managing Director of The Carlyle Group and is Co-Head of the U.S. Buyout fund. ... Joaquin Avila is a Managing Director of the global private equity firm, Carlyle Group, where he is responsible for researching and discovering opportunities in the field of buyout investments. ... Laurent Beaudoin, C.C., O.Q., M.Comm. ... For other uses, see Bombardier (disambiguation). ... Paul Desmarais, Sr. ... Power Corporation of Canada TSX: POW.SV is a major Canadian company with assets in North America and Europe in a number of industries. ... Arthur Levitt Jr. ... The U.S. Securities and Exchange Commission, commonly referred to as the SEC, is the United States governing body which has primary responsibility for overseeing the regulation of the securities industry. ... Karl Otto PÃ¶hl (born December 1, 1929) is a German economist and a President of the Bundesbank and Chairman of its Central Bank Council from 1980 to 1991. ... The Deutsche Bundesbank is the central bank of Germany and a part of the European System of Central Banks. ... Nicolas Sarkozy at Paris, May 2005. ...

Political figures

North America

George Herbert Walker Bush (born June 12, 1924) was the 41st President of the United States, serving from 1989 to 1993. ... George Walker Bush (born July 6, 1946) is the forty-third and current President of the United States of America, originally inaugurated on January 20, 2001. ... This article is about the year. ... Caterair was the name of a Texas-based investment, Caterair International, Inc. ... James Addison Baker III (born April 28, 1930) served as the Chief of Staff in President Ronald Reagans first administration, Secretary of the Treasury from 1985 to 1988 in the second Reagan administration, and Secretary of State in the administration of President George H. W. Bush. ... The United States Secretary of State is the head of the United States Department of State, concerned with foreign affairs. ... Reagan redirects here. ... Frank Charles Carlucci III (born October 18, 1930) was a government official in the United States associated with the Republican Party who was United States Secretary of Defense from 1987 until 1989. ... The United States Secretary of Defense (SECDEF) is the head of the U.S. Department of Defense (DoD), concerned with the armed services and military matters. ... Princeton University is a private coeducational research university located in Princeton, New Jersey. ... Donald Henry Rumsfeld (born July 9, 1932) is a businessman, a U.S. Republican politician, the 13th Secretary of Defense under President Gerald Ford from 1975 to 1977, and the 21st Secretary of Defense under President George W. Bush from 2001 to 2006. ... Richard (Dick) Gordon Darman was born May 10, 1943. ... Allan Ezra Gotlieb (born February 28, Canadian public servant and author. ... Chairman, United States Federal Communications Commission 1997 to 2001 Appointed to the Chairmanship by Bill Clinton in November, 1997 after the resignation of the previous chairman, Reed Hundt, William E. Kennard devoted his chairmanship to meeting two challenges of the Digital Age. ... FCC redirects here. ... William Jefferson Bill Clinton (born William Jefferson Blythe III[1] on August 19, 1946) was the 42nd President of the United States, serving from 1993 to 2001. ... Arthur Levitt Jr. ... The Securities and Exchange Commission, commonly referred to as the SEC, is the United States governing body which has primary responsibility for overseeing the regulation of the securities industry. ... Thomas F. (Mack) McLarty III, (born 1946) is a prominent Arkansas business and political leader and former White House Chief of Staff for US President Bill Clinton, and current President of Kissinger McLarty Associates (his consulting company with Henry Kissinger) and President and Chief Executive Officer of Asbury Automotive Arkansas... Joshua B. Bolten, the current White House Chief of Staff. ... Kissinger Associates, Inc. ... Daniel Samuel Senor (born November 6, 1971), a Republican strategist and contributor to Fox News. ... Peter Lougheed, painting by C. Leeper The Honourable Peter Lougheed, PC , CC , QC (born July 26, 1928, in Calgary, Alberta) is a Canadian lawyer, politician and Canadian Football League player. ... Luis TÃ©llez Kuenzler (b. ... Felipe de JesÃºs CalderÃ³n Hinojosa (b. ... Term of office: 1 December 1994 â€“ 1 December 2000 Preceded by: Carlos Salinas de Gortari Succeeded by: Vicente Fox Quesada Date of birth: 27 December 1951 Place of birth: Mexico City Profession: Economist First Lady: Nilda Patricia Velasco NÃºÃ±ez Political Party: PRI Ernesto Zedillo Ponce de LeÃ³n (born... The Honourable Francis Joseph Frank McKenna, PC, ONB (born January 19, 1948, in Apohaqui, New Brunswick, Canada) is a Canadian politician and diplomat. ... For other uses, see Ambassador (disambiguation). ...

Europe

For other persons named John Major, see John Major (disambiguation). ... A prime minister is the most senior minister of cabinet in the executive branch of government in a parliamentary system. ...

Asia

Anand Panyarachun (born August 9, 1932) was Thailands Prime Minister twice, between 1991-1992 and once again in 1992. ... Fidel Valdez Ramos (born March 18, 1928) was the 12th President of the Philippines. ... Thaksin redirects here. ...

Middle East

An investor, Shafig bin Laden (Arabic: ) is a half-brother to Osama bin Laden, and was a guest of honour at the Carlyle Groups Washington conference at the Ritz-Carlton Hotel on September 11, 2001. ... Osama bin Muhammad bin Awad bin Laden (Arabic: â€Ž; born March 10, 1957[1]), most often mentioned as Osama bin Laden or Usama bin Laden, is a Saudi Arabian militant Islamist and is widely believed to be one of the founders of the organization called al-Qaeda. ...

Media

Norman Pearlstine (born October 4, 1942 in Philadelphia) the former editor-in-chief of TIME inc. ... TIME redirects here. ...

Contents